Cape Town\u2019s economy is on the rise, adding 86,000 jobs over the past year. While national unemployment reached 32.9% in the first quarter, Cape Town\u2019s growth shows that jobs, innovation, and social impact can go hand in hand. The Cape Town economy’s upward trend reflects this positive outlook.<\/p>\n\n\n\n
James Vos, Mayco member for economic growth, attributes these results to the City’s \u201csteady, service-driven approach to economic development” and commitment to bolstering the Cape Town economy.<\/p>\n\n\n\n
\n\u201cThe city continues to create meaningful work and economic opportunities for residents,\u201d Vos says.<\/p>\n<\/blockquote>\n\n\n\n
Key sectors driving job growth<\/h4>\n\n\n\n
Business process outsourcing, technology, clothing and textile manufacturing, and marine industries have seen the strongest employment growth. Cape Town also plans R39.7 billion in infrastructure projects over the next three years. These projects aim to create 130,000 additional jobs to boost the Cape Town economy further.<\/p>\n\n\n\nLabour market overview
<\/h4>\n\n\n\nCape Town has a working-age population of 3.25 million, with a labour force of 2.43 million. The labour force participation rate is 71.8%, and the absorption rate is 56.1%. Informal employment accounts for 239,731 workers. Active job seekers number 511,186. Additionally, there are 88,947 discouraged or non-searching job seekers, reflecting the challenges and opportunities in the Cape Town economy.<\/p>\n\n\n\n
Economic snapshot<\/h4>\n\n\n\n
The Western Cape contributed R669 billion to South Africa’s R4.68 trillion GDP in Q1. Cape Town generates roughly 72% of the province\u2019s GDP, about R481 billion, with a per capita GDP of R152,093. Tourism is booming. 983,568 international tourists visited six major attractions in Q1. Cape Town International Airport handled 2.87 million passengers, underscoring the vibrancy of the Cape Town economy.<\/p>\n\n\n\n
Innovation transforming education<\/h4>\n\n\n\n
Start-up Digitisd, founded by teacher-turned-entrepreneur Cherith Wareley, trains teachers to integrate technology into classrooms. They focus on underserved communities. Through grants, partnerships, and affordable training, Digitisd empowers teachers to use digital tools effectively, contributing to the overall growth of Cape Town’s economy.<\/p>\n\n\n\n
The start-up has gained recognition from platforms like Innovation Accelerator Week, WomHub\/Standard Chartered Top 12, and Stellenbosch University\u2019s Lion\u2019s Den Top 3. Plans include online courses, deeper institutional partnerships, and an AI-driven platform for personalized teacher training.<\/p>\n\n\n\n
A hub for economic growth and social impact<\/h4>\n\n\n\n
With strong job growth, rising GDP, thriving tourism, and innovative start-ups, Cape Town is cementing its role as a hub for economic development and social impact. This illustrates the dynamic nature of the Cape Town economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
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